Money Guy Show When Always Be Buying Goes WRONG!
11 snips
Dec 4, 2024 Explore the philosophy behind the 'Always Be Buying' mindset in investing and its psychological pitfalls. Discover how checking your investments daily can impact your emotions and decision-making. The discussion humorously contrasts stock investing with gambling, emphasizing the importance of managing risks. Insights into estate planning highlight strategies like Roth accounts and the 'step-up in basis' for inherited assets. Plus, get excited about exclusive Black Friday deals on financial courses that aim to elevate your wealth-building journey!
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Daily DCA and FOMO
- Avoid obsessively checking accounts daily, as this can lead to emotional distress.
- Focus on long-term goals rather than short-term market fluctuations.
Emotional Impact of Daily Tracking
- Daily market tracking can increase emotional volatility due to frequent ups and downs.
- Less frequent checks promote a more positive and sustainable investing experience.
Brian's Evolving DCA
- Brian Preston admits to increasing the frequency of his own investment purchases.
- He progressed from monthly to twice a month, then weekly contributions.